Singer and actress Selena Gomez has officially become a billionaire, with Bloomberg estimating her net worth at $1.3 billion as of Friday, September 6. Much of this wealth comes from her beauty brand, Rare Beauty, which she launched in February 2019. In addition to her music and acting career, Gomez’s success as an entrepreneur has propelled her to billionaire status.
Rare Beauty’s Role in Selena Gomez’s Billionaire Status
According to the report, more than 80% of Gomez’s wealth is tied to her role as the majority owner of Rare Beauty. The brand has gained immense popularity in the beauty and influencer industries. Marketing expert Stacy Jones noted, “Selena is not just a pop star. She’s a savvy businesswoman with multiple income streams adding to her impressive wealth.”
Aside from Rare Beauty, Gomez’s fortune is boosted by her investments in real estate, her mental health startup Wondermind, and earnings from acting, music, and endorsement deals. Recently, the singer achieved another milestone with her hit show Only Murders in the Building, which has been renewed for a fifth season. Additionally, as noted by Page Six, she ranks as the third most-followed person on Instagram and reportedly earns up to $30 million for a single endorsement deal.
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Selena Gomez Joining Taylor Swift on the Billionaire List
Selena now shares the billionaire spotlight with her close friend Taylor Swift, who was declared a billionaire in October 2023, largely due to the success of her Eras Tour. Swift’s music empire has also significantly contributed to her fortune, which includes a catalog valued at $400 million in 2019, along with $370 million from her record-breaking tour, $160 million from streaming, and close to $100 million from album sales.
Swift’s estimated net worth in 2023 was around $1.1 billion, but with the release of a new album and additional tour dates, her wealth is likely to continue growing.
